CANADA STOCKS-TSX edges lower as materials stocks weigh, earnings in focus

Thu Jan 26, 2017 11:09am EST
 
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* TSX down 17.57 points, or 0.11 percent, to 15,626.27

* Six of the TSX's 10 main groups rise

TORONTO Jan 26 (Reuters) - Canada's main stock index edged lower on Thursday but stayed close to its all-time high as a retreat among materials stocks weighed and investors reacted to a string of earnings reports.

The most influential movers on the index included cable and wireless company Rogers Communications Inc, which rose 3.7 percent to C$54.52 after reporting better-than-expected adjusted profit on solid wireless growth.

Methanex Corp jumped 5.5 percent to C$64.71 after the methanol supplier posted a sharp jump in profit.

Still, the materials group that includes precious and base metals miners and fertilizer companies lost 1.4 percent as gold miners fell with bullion prices sliding to a two-week low.

Potash Corp declined 2.3 percent to C$25.37 after it forecast a less profitable year than analysts expected, and reported a surprisingly big drop in profit as a deep slump continued in the oversupplied fertilizer sector.

Agrium Inc, with whom Potash Corp plans to merge, fell 2 percent to C$140.27.

At 11:08 a.m. ET (1608 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 17.57 points, or 0.11 percent, to 15,626.27.   Continued...